Ministry of Finance | Egypt Oil & Gas - Part 3
Ministry of Finance to Receive 25% of Gas Market Regulatory Authority’s Profits
The Ministry of Finance will receive 25% of the Gas Market Regulatory Authority’s profits, while the remaining 75% will belong to the regulator, a source at the Gas Market Regulatory Authority told Al Borsa Newspaper....
Egypt Cancels Fuel Hedging Contracts
The Ministry of Finance has canceled plans to purchase fuel hedging contracts from international financial institutions, a government source told Enterprise. The ministry was close to finalizing contracts with two ban...
Finance Ministry to Allocate $80/Barrel of Oil in the 2019/20 Budget: Government Official
The Egyptian Ministry of Finance will calculcate the 2019/20 budget using a benchmark oil price of $80 per barrel, a senior government official told Enterprise. The cabinet has started working on the new budget aiming...
Egyptian Finance Ministry to Issue Letters of Guarantee for 30 Solar Firms
The Egyptian Ministry of Finance plans to issue letters of guarantee for 30 solar energy firms under the terms of phase II of the Feed-in-Tariff (FiT) program, governmental sources told Al Borsa. The letters are consi...
Egyptian Government to Prioritize Energy Rationalization in New FY Budget
Egypt’s “Official Publication for the Preparation of Fiscal Year (FY) 2018/2019” has stated a number of reforms aiming at rationalizing energy subsidies and expenditure, Al Mal News reported. The an...
E&P Activities to be Exempted from VAT
The Egyptian Ministry of Finance is preparing a list of oil and gas exploration-and-production (E&P) activities to be exempted from the value-added tax (VAT), the First Undersecretary of the Ministry of Finance, A...
El Jarhi: Cutting Fuel Subsidies to Aid Lower Income Groups
The cost of the social protection package will reach EGP 84b in the budget of the new fiscal year (FY) after amending the subsidies, pensions, and allowances, in addition to the tax deduction, Egyptian Minister of Fin... MoF: No Increase in Fuel Prices until Next July
There will be no further increase in fuel prices during the fiscal year (FY) 2017/18, the Egyptian Minister of Finance stated during a call to ON TV, he further added that the government will continue to reduce energy...
